Transaction Funds definition
Examples of Transaction Funds in a sentence
If a Transaction is disputed by a User (Agent, Landlord, Tenant or Tradesperson) of the Platform, or a Transaction Funds Reversal or Refund is being sought by a User, Our Property will not be responsible or liable for that Transaction and any associated fees or fines in respect of that Transaction.
Subject to the Treaty, with respect to any Transaction Funds transferred under this agreement and to the Lands for which they were transferred, Articles 5, 7, 8, 9, 10 and 11 will survive the completion of the Transfers or the termination of this agreement.
You acknowledge that the payment industry and banking rules and regulations facilitate and determine any dispute in respect of any Transaction, Refund or Transaction Funds Reversals.
OurProperty may recover any funds from You in respect of any Refund or Transaction Funds Reversal.
The specific conditions for transferring the funds are set forth in the Escrow Agreement of the Transaction Funds for Property Sale and Purchase.
You also agree, without limiting clause 14, to indemnify OurProperty for any Transaction Funds Reversal, Refund or dispute and any associated fees or fines.
You agree to be bound by any applicable dispute resolution process required by any payment industry or banking rules and regulations appliable to the Transaction, Refund or Transaction Funds Reversals.
The net amount shown on the Bank Client Settlement Statement shall be determined by taking the gross amount of Bank Client Reloads and GD Transaction Funds and subtracting amounts payable by Bank to Bank Client with respect to Bank Client Reloads (as identified by Bank for Servicer) and by Servicer to Bank Client with respect to GD Transaction Funds (as provided in the agreement between Servicer and Bank Client).
During the escrow period, neither Party A nor Party B is allowed to use or take any actions on such Transaction Funds in advance unless the conditions precedent stipulated hereunder are fulfilled.
Notwithstanding the foregoing, the parties acknowledge that Bank shall not be responsible for amounts payable by the Bank Client to Servicer with respect to the GD Transaction Funds except as expressly provided in this Agreement.